OneID®, the UK’s only provider of bank-verified digital identification services, has secured new funding led by ACF Investors. OneID is one of the leading angel-funded businesses in the world, having raised over £16m from more than 200 UK, Swedish and US Angel Investors. The investment will be used to drive growth and expand operations and services to reach a growing customer base. 

The growing losses and sophistication of fraud, combined with the need for a more seamless user experience, have made the need for more secure and efficient online identity verification more pressing. 

OneID’s digital identity services address this challenge by simplifying customer verification through bank-verified data. This approach enables a document-free digital identification process that can be completed within twelve seconds. The service also prioritises privacy, requiring consent to share personal data and helps businesses streamline onboarding, increase sales, reduce operational costs, and mitigate fraud risks. The fact that approximately 90% of UK adults who use online banking can use OneID for verification also makes it the most widely accessible solution. 

The UK Government’s increased focus on digital identity has highlighted the need for innovation in the sector. The Department of Science and Technology’s proposed  Digital ID for age verification and the Online Safety Act of 2023 require more than 100,000 online service providers to adopt stringent identity and age assurance measures. OneID’s bank-based identity and age verification solution ensures compliance with the Act whilst maintaining user privacy. 

The funding follows a period of growth and implementation of the company’s technology with a growing customer base, including NatWest and Adobe. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers. 

Paula Sussex, CEO of OneID, says, “At OneID, our goal is to make the world safer by making digital identity verification more efficient and accessible for businesses and users. We’ve had a tremendous year in 2024 across several use cases. With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters. The funding from ACF Investors is a strong vote of confidence in us as a business, and we look forward to working with the team to supercharge our growth in 2025.”

Tim Mills, Managing Partner at ACF Investors, says, “The Government’s growing focus on digital identity underscores the market’s need for simple and effective identification solutions. OneID is delivering exactly that, enabling both fraud prevention and regulatory compliance for financial institutions. We are delighted to follow on from our initial investment in 2023 and look forward to supporting the team as they grow.”